Golden Finance reported that according to Cointelegraph, Utah HB230 "Blockchain and Digital Innovation Amendment" passed the state Senate Tax Committee on February 20 with a 4-2-1 vote. The bill will enter Senate II Read and three-read program. Under the bill, to be a reserve asset, the average market value of a digital asset in the previous calendar year must reach $500 billion or more. Currently, only Bitcoin meets this requirement. The bill also authorizes the state finance minister to participate in cryptocurrency pledge business, and the state finance department can invest no more than 5% of digital assets in each of the five state accounts, including the general budget fund, the income tax fund budget and the state disaster recovery account. Previous news, the Utah Bitcoin Reserves Act was passed by the House of Representatives and entered the Senate Tax Committee for consideration.